In a lighthearted, but definitely interesting, piece published by the ‘Harvard Business Review, Nov. 2010,’ David Yermack has collected data to show that the brands that Michelle Obama wears in her public appearances tend to gain higher values in stock markets. Let me repeat this, whenever Mrs. Obama wears a brand in a public appearance, the brand she wore would start scoring returns that cannot be attributed to normal market variations!
On average, the brands she wears generate a value of about $14 million per appearance. And as a total of 189 public appearances, 29 brands scored about $2.7 billion in stock market value. And if you are a lady and reading this, you might be interested to know that in those 189 appearances, she wore about 245 items of apparel; so do you still think your closet collection is fashionable? … yeah, right!!!!
So why this post? It is to stress on the importance of celebrity endorsement in marketing, branding, and eventually generating value. Mrs. Obama is definitely a special case. For instance, she is not paid to wear what she does. This is giving her a credibility that is pretty hard to establish in any celebrity endorsement campaign. Mr. Yermack goes further and attribute this huge impact of Mrs. Obama on the fashion industry to three reasons: her personal and authentic interest in fashion, her position as the first lady, and the power of social internet and e-commerce that makes such effects almost instantaneous; you could watch what she is wearing live, and start ordering it online right away!!
Now, reflecting that on the Saudi market, and the whole Arab market if you would, our celebrity endorsement campaigns are dreadful, to say the least. For a lot of marketers in this part of the world, unfortunately, it is only about getting the celebrity using the product in front of a camera and … that’s all!!! So for us, the consumers, it is a lousy performer, hugely paid, trying to convince us that this is the best juice, shampoo, telecom network out there!!! There are no common traits that the brand and the celebrity share and try to communicate to the consumers. Now I am saying this just assuming that those ads are created based on a branding strategy!!
To get the right picture, just think of Nike and its famous tennis players sponsoring/celebrity endorsement campaigns, or even better, check out the “elegance is an attitude” campaign of Longines watches and the beautiful Indian actress Aishwarya.
Having said that, there is one campaign that I would exclude from the Arab misfortunate celebrity endorsement campaigns. That is the campaign of Coca Cola and, the Lebanese singer, Nancy Ajram. Although the most favorable drink in the world, Coca Cola is usually facing a hard time, or a tough competition, from Pepsi in the Middle East and in the GCC countries to be more specific. Having Nancy on board, Coca Cola definitely scored high returns in all; market share and loyalty (I hope I’m in possession of hard numbers to support this argument, but I, unfortunately, do not). So why Coca Cola and Nancy were successful? because they both communicated the same message, having fun (read my latest post!). They knew how to mix the attractiveness of Nancy, who some would attribute to her childish appeal and some would attribute it to her explosive femininity, with message of being happy while having a bottle or a can of Coke (see some examples below)
Now, to conclude this post, if it happens that you are into fashion designing, you may want to consider sending some of your designs to Mrs. Obama!







